Bellwether Advisors LLC Buys Shares of 360 The Bank of New York Mellon Co. (NYSE:BK)

Bellwether Advisors LLC bought a new stake in shares of The Bank of New York Mellon Co. (NYSE:BK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 360 shares of the bank’s stock, valued at approximately $28,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BK. Czech National Bank grew its position in shares of Bank of New York Mellon by 4.9% during the 4th quarter. Czech National Bank now owns 157,645 shares of the bank’s stock valued at $12,112,000 after purchasing an additional 7,316 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Bank of New York Mellon by 11.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank’s stock valued at $60,426,000 after purchasing an additional 82,671 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Bank of New York Mellon by 9.2% during the 4th quarter. Fifth Third Bancorp now owns 94,046 shares of the bank’s stock valued at $7,226,000 after purchasing an additional 7,935 shares in the last quarter. Natixis Advisors LLC grew its position in shares of Bank of New York Mellon by 6.5% during the 4th quarter. Natixis Advisors LLC now owns 285,965 shares of the bank’s stock valued at $21,971,000 after purchasing an additional 17,457 shares in the last quarter. Finally, Western Financial Corp CA purchased a new position in shares of Bank of New York Mellon during the 4th quarter valued at $342,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK opened at $78.94 on Tuesday. The company has a market cap of $56.68 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03. The company has a 50-day moving average price of $81.50 and a 200-day moving average price of $80.59. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The Bank of New York Mellon Co. has a 12 month low of $56.08 and a 12 month high of $90.34.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The company had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same period in the prior year, the firm earned $1.29 earnings per share. Bank of New York Mellon’s revenue was up 5.9% on a year-over-year basis. As a group, equities analysts anticipate that The Bank of New York Mellon Co. will post 6.96 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Monday, April 21st. Bank of New York Mellon’s payout ratio is currently 30.62%.

Insider Buying and Selling

In other news, VP Catherine Keating sold 65,473 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the sale, the vice president now directly owns 87,542 shares of the company’s stock, valued at $6,767,872.02. The trade was a 42.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the transaction, the insider now directly owns 21,679 shares of the company’s stock, valued at approximately $1,680,122.50. This trade represents a 20.65 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BK shares. Morgan Stanley reduced their price target on shares of Bank of New York Mellon from $99.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, April 2nd. Bank of America boosted their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 target price on shares of Bank of New York Mellon in a research report on Monday, March 17th. Barclays upped their target price on shares of Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research report on Thursday, January 16th. Finally, Wells Fargo & Company upped their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an “equal weight” rating in a research report on Monday, March 3rd. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $91.31.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.